first time homebuyer programs by state

 Summary List Placement
You may qualify for financial assistance from your state government if you’re buying your first home and have a low-to-moderate income.
If you get a mortgage from a participating lender, you can receive cash toward a down payment or closing costs, plus tax credits.
Some state first-time homebuyer loans are forgivable if you stay in the home for a certain amount of time; other states give grants, which you never have to repay.
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If you’re buying your first home, you might be eligible for financial assistance from your state government. States offer low-interest mortgages, cash for down payments and closing costs, and tax credits for borrowers at low-to-moderate income levels.

Find out what your state provides for first-time homebuyers:

Table of Contents: Masthead StickyPrograms in the Northeast

The Connecticut Housing Finance Authority gives loans for down payment assistance. You must borrow at least $3,000, but you can’t borrow more than the minimum down payment for your home.

You might find assistance specific to where you live through the Housing Development Fund.


You can receive 2% to 5% of your mortgage amount as a loan from the Delaware State Housing Authority, and put that loan toward a down payment or closing costs. You won’t pay interest, and you’ll pay back the loan when you move, refinance, or pay off your mortgage. You can also get up to $2,000 per year in tax credits.

The DSHA also offers reduced interest rates on mortgages if you’ve graduated with a higher education degree in the last three years.

The Chenoa Fund will lend you up to 3.5% for a down payment, and you’ll repay the loan over 10 years.


MaineHousing offers up …read more

Source:: Business Insider


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